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7 de octubre de 2015

FICO Affordability Calculator Aids Responsible Lending and Collections

7 de octubre de 2015

LONDON — October 7, 2015

Highlights:

  • FICO Affordability Calculator enables lenders to set affordable repayment schedules with borrowers
  • Borrowers can complete the form online, saving time and potential embarrassment

FICO today announced the availability of the FICO® Affordability Calculator, a tool that debt advisors and borrowers can use to set affordable arrangements for repayment of debt. This easy-to-use, web-based solution guides consumers through the budgeting process for establishing sustainable payments, or allows them to complete the form with an agent. It is available now in the UK, and can be configured easily for markets worldwide.

For more information: www.fico.com/en/products/affordability-calculator

New regulations are making it essential for financial services organizations to establish a consistent way to assess debtors' income and expenditures, and to assist them with sustainable, affordable payments. For example, the Financial Conduct Authority in the UK specifies that affordability of payments be part of lending decisions. However, many organizations are finding it hard to implement a uniform approach successfully in both customer-facing and operational environments.

"This tool helps consumers meet their payment obligations, and helps lenders and collection agencies practice responsible lending," said Gabriel Hopkins, FICO product manager. "It removes the embarrassment people often feel when explaining their financial situation to a collections agent or lender, and makes the process of establishing affordability quicker for consumer, lenders and collectors."

Forms are dynamically created to suit the customer's status, the nature of the borrowing by type, priority and liability. Questions are based on the previous responses, which helps people make an informed assessment of their financial position. Individuals can work with an advisor to complete the form if their data varies from the pre-set trusted trigger figures (such as ONS statistics), their details cannot be independently verified, or they need assistance.

Lenders and collectors can quickly change the questions using FICO® Blaze Advisor® decision management system. “This makes the calculator useful for all kinds of lenders and collectors,” said Hopkins, “and for not only collections but loan originations and other areas where understanding a consumer’s payment capacity is important.”

Sobre FICO
FICO (NYSE: FICO) es una empresa líder de software de analítica que ayuda a negocios de más de 90 países a tomar mejores decisiones que incrementen el crecimiento, la rentabilidad y la satisfacción del cliente. El innovador uso de Big Data y de algoritmos matemáticos por parte de la empresa para predecir el comportamiento del consumidor ha transformado sectores enteros. FICO ofrece software de analítica y herramientas que se emplean en múltiples sectores para gestionar riesgos, combatir el fraude, crear relaciones con clientes más rentables, optimizar operaciones y cumplir con estrictas regulaciones gubernamentales. Many of our products reach industry-wide adoption. These include the FICO® Score, the standard measure of consumer credit risk in the United States. Las soluciones FICO emplea estándares de código abierto y cloud computing para maximizar la flexibilidad, hacer despliegues más rápidos y reducir costes. La empresa también ayuda a millones de personas a gestionar su salud crediticia personal.

For FICO news and media resources, visit www.fico.com/news.

FICO and Blaze Advisor are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.

Contactos de la sala de prensa

Greg Jawski
Américas

greg.jawski@porternovelli.com
+1 212-601-8248

Darcy Sullivan
Europa, Oriente Medio y África

dsullivan@fico.com
+44 (0) 209-940-8719

Saxon Shirley
Asia Pacífico

saxonshirley@fico.com
+65 6422-7795

Marisa Arribas
Latinoamérica

marisaarribas@fico.com
+1 786 482 7231

Milla Delfino
América Latina

milladelfino@fico.com
+55 11 97673-6583